Intangible Assets

We include in our amortizable intangible assets those intangible assets acquired in our business and asset acquisitions. We amortize acquired intangible assets with finite lives over their estimated economic lives, generally using the straight-line method. Each period, we evaluate the estimated remaining useful lives of acquired intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Acquired intangibles are removed from the accounts when fully amortized and no longer in use.

Intangible assets consisted of the following as of March 31, 2018 and June 30, 2017:



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in Thousands)
March 31, 2018:
Technology and patents	$	35,807	$	(4,631	)	$	31,176
Customer relationships	4,902		(325		)	4,577
Non-compete agreements	553		(261		)	292
Total	$	41,262	$	(5,217	)	$	36,045
June 30, 2017:
Technology and patents	$	22,350	$	(3,254	)	$	19,096
Customer relationships	1,432		(169		)	1,263
Non-compete agreements	553		(123		)	430
Total	$	24,335	$	(3,546	)	$	20,789

Total amortization expense related to intangible assets is included in operating expenses and amounted to approximately $0.5 million and $1.6 million for the three and nine months ended March 31, 2018, respectively, and approximately $0.4 million and $0.5 million for the three and nine months ended March 31, 2017, respectively.

Future amortization expense as of March 31, 2018 is expected to be as follows:



Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2018	$	1,079
2019	4,658
2020	4,729
2021	4,719
2022	4,713
Thereafter	16,147
Total	$	36,045